Planning to take an education loan? Here're the rates offered by banks

Defaulting on education loan can prove catastrophic

Premium

Photo: Shutterstock

2 min read Last Updated : May 05 2019 | 7:45 PM IST

Repairing your credit score and regaining access to the loan market could take three years or more.

According to the recent data released by the Reserve Bank of India (RBI), education loan outstandings of banks have fallen for the second year in a row, due to high delinquencies
Education loan outstandings fell from Rs 70,100 crore in March 2017 to Rs 69,700 crore in March 2018. They fell by another 2.5 per cent to Rs 68,000 crore in March 2019
The NPA level in this segment stands at around 8.7 per cent
Most of the bad loans are offered by public sector banks. They

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

Need More Information - write to us at assist@bsmail.in